Bank of Bhutan (BoB) launched Card less Cash Withdrawal Facility in Thimphu, today. It will allow clients to withdraw money from an Automated Teller Machine (ATM) without a card.
Customers, using M-BOB mobile application, can log onto the application and withdraw money from any BoB ATMs.
They can also initiate the service to anyone including M-BOB users and those who do not have a bank account by dialling *262#.
After dialling, the beneficiary will receive a text message containing โOne Time Passwordโ (OTP) which will be valid for only 15 minutes.
However, BoBโs officials said the passwordโs validity can be changed depending upon the customersโ convenience.
“Just by sending OTP to the customers doesn’t mean that his or her account is debited. It will not debit the account unless the person goes to an ATM and withdraws,โ said BoBโs Head of Alternate Delivery Channel, Tashi Dhendup.
The maximum daily withdrawal amount is Nu 40,000 with a maximum of Nu 15,000 per transaction.
Today, Bank of Bhutan has the largest network of 82 ATMs across the country.
